A lithium-ion battery in an electric bike or scooter self-combusted in a Bronx apartment building, sparking a four-alarm fire early Saturday morning, according to the Fire Department of New York (FDNY).
While many claims professionals are familiar with the concept of 360-degree scan and/or photographing technologies, I meet many who do not know how to utilize these resources.
The 5th U.S. Circuit Court of Appeals in New Orleans became the eighth federal appeals court Wednesday to rule that a policyholder was not entitled to COVID-19 business interruption coverage, in a lawsuit filed by two barbeque restaurants.
A major lawsuit in the collapse of a Florida beachfront condominium building that killed 98 people will go to trial in March 2023, a judge said Wednesday.
Digital transformation has been the aim of the insurance industry for many years. It has become a war cry as early adopters and new tech start-ups become increasingly frustrated at the general lack of urgency shown for getting the project done.
With innovative technology springing out of venture-funded startups and making its way into monolithic industries like banking and healthcare, it was only a matter of time until tech-driven disruption came for the insurance industry.
It’s been four-and-a-half months since Hurricane Ida hit, and there are still families waiting on insurance payments to fix their homes. And now, more and more victims are turning to the state insurance department for help, or asking an attorney to speed up the process.
The NHL and 20 of its teams claimed to have lost over $1 billion over the COVID-19 pandemic, and they’re suing five of their insurance providers for reimbursement.
Insured losses of $44 billion from COVID-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said on Tuesday.
Social inflation remains a top challenge facing insurers in the realm of claims. Social inflation is, at its core, a shift in societal mentality; and is often driven by generational perceptions of fairness, including how jurors view litigants and their ability to absorb the attendant risk and cost of litigation.
More than 100 insurance companies are suing the Texas power grid operator and dozens of power generators, over losses and property damage sustained during the winter storm last February.
The late-season Marshall Fire in Boulder County, Colorado, which destroyed almost 1,000 structures after strong winds accelerated the spread, is estimated to have resulted in insured losses of approximately $1 billion, according to risk modeller Karen Clark & Company.
A U.S. judge on Monday ordered mediation in the Purdue Pharma bankruptcy, calling for the company, the Sackler family members that own it and nine states to determine whether they can reach a new opioid litigation settlement by Jan. 14.
A new billionaire was minted every 17 hours over the past year as their number reached an all-time high in Forbes’ annual list of the world’s wealthiest people. Overall, the media giant confirmed 2,755 billionaires in 2021, up by 660 from the previous year.
